news you can trust I **MONDAY 25 JUNE 2018 I vol. 15, no 82 I N300
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Nigeria’s rising debt fails to boost economic growth
See commodities on page 2
Diamond, FBNH eurobonds outperform as EM rout reaches Nigeria Emeka Ucheaga
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LOLADE AKINMURELE, DAMILARE ASIMIYU & DAVID IBIDAPO
urobonds issued by Diamond bank and First bank are the best performing Eurobonds this year among dollar denominated corporate bonds raised by Nigerian Banks. Coincidentally, these same bonds are among the riskiest Eurobonds in Nigeria based on their credit rating of B- and CCC for Diamond and FBN respectively.
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igeria’s total debt has almost doubled in three years from N12.6 tr illion in December 2015 to N22.71 trillion as at March 2018, according to the Debt Management Office (DMO), however growth in Africa’s largest economy has failed to match counter cyclical spending, designed to stimulate an economy in recession. The Federal Government has
Diamond bank Eurobond which matures in 2019 has returned 4.33 percent year to date while First
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Inside Dangote Cement to issue up to N150bn Commercial Paper P. 2 PENCOM shakes up industry with revised fee structure P. 2 Heritage Bank rewards performance ...promotes over 350 staff P. 20
World Cup Result England 6 - Panama 1 2 - Senegal 2 Japan Colombia 3 - Poland 0
Oshiomhole inaugurated as APC National Chair, resumes work today James Kwen & OWEDE AGBAJILEKE Abuja
…Swears in other officials …PDP urges him to submit to EFCC
dams Oshiomhole was yesterday inaugurated as the National Chairman of the ruling All Progressives Congress, APC at the end of the party’s National
C o nv e n t i o n h e l d a t E a g l e s Square, Abuja. Oshiomhole was sworn in by Abubakar Malami, Attorney General of the Federation and Minister of Justice following a
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motion moved by Ibrahim Manusa, a delegate from Jigawa State dissolving the John Oyegun led National leadership of APC. The new APC National Chairman was
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